Bank Of Hawai'i Corp. Q3 Net Income Declines - Quick Facts

(RTTNews) - Bank of Hawai'i Corporation (BOH) reported third quarter net income of $47.9 million, down 9.3% from the same quarter of 2022. Earnings per common share was $1.17, compared with $1.28. On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.97, for the quarter. Analysts' estimates typically exclude special items.

Net interest income was $120.9 million, a decrease of 14.6% from the same quarter of 2022. The company said the decrease was primarily due to higher funding costs, partially offset by higher earning asset yields. Noninterest income was $50.3 million, an increase of 64.2% from the same period in 2022. Analysts on average had estimated $160.74 million in revenue.

The company's Board of Directors declared a quarterly cash dividend of $0.70 per share on the outstanding common shares. The dividend will be payable on December 14, 2023 to shareholders of record at the close of business on November 30, 2023.

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